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Suppose a bond has a $1000 par value, 10 years to maturity, a 7 percent annual coupon, and sells for $985. What is its current

Suppose a bond has a $1000 par value, 10 years to maturity, a 7 percent annual coupon, and sells for $985. What is its current yield? Select one: a. 2.40 percent b. 11.2 percent c. 7.11 percent d. Answer is not available e. 8.40 percent

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